New Zealand dairy giant Fonterra has reported record dairy exports for the month of October.

Fonterra said it exported 215,000 metric tons of dairy products in October, setting a New Zealand dairy export record for a single month. The new record was 48,000 tons higher than the previous record, which was set in 2001.

The company has also predicted that further dairy production and export records could be set in November due to a late spring in the southern hemisphere.

High export volumes mean that the company is likely to meet its sales targets for the full year, according to company CEO, Craig Norgate.

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By GlobalData